Petrol Price Cut to Rs332, Diesel to Rs360Pakistan

The latest cut follows a similar reduction a day earlier, when petrol was lowered by Rs3 to Rs335 per litre and diesel by Rs7 to Rs364. The back-to-back revisions come under a new daily pricing system, with OGRA now publishing petroleum prices on its website every day.

The federal cabinet approved changes to the petrol pricing mechanism on October 30, amid volatility in international oil markets. OGRA said the revised prices had been determined under the petroleum products pricing mechanism approved by the federal government.

The daily review is meant to improve transparency and pass changes in international oil prices on to consumers more quickly, rather than waiting for longer gaps between revisions. Officials say the system allows global market movements to be reflected in local prices without delay.

The reduction offers modest relief to motorists and commuters, although fuel prices remain high and transport costs continue to weigh on household budgets. Diesel, which is used widely in transport, agriculture and industry, has a direct bearing on the prices of goods and food items.

Petrol prices are now reviewed daily under the new mechanism, which means rates can move up or down in line with international markets. Consumers have been advised to check the latest notified prices, as further changes are possible in the coming days.

The move comes at a time when households are already facing high living costs, and any fall in fuel prices is closely watched by commuters, transporters and businesses. Petrol is the main fuel for cars and motorcycles, while diesel powers trucks, buses and farm machinery across the country.

OGRA, which regulates the oil and gas sector, announces the revised ex-depot prices, and the new rates apply from the date given in its notification. The regulator has said the daily publication of prices is intended to make the process more transparent for consumers.